The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-12-01
THE CASH COMES IN SLOWLY
Over Half the Trust Stockholders Have
Failed to Pay the First Assessment.
They Will Be Given Three More Days of Grace
Stakeholder Huey Fears that the Trust
Is Becoming Monopolistic in Character.

The ten days in which the subscribers for
stock in the Consumers Gas Trust to pay their
first assessment of 20 per. cent expires to-day.
and over onehalf of the stockholders have not
paid the amount due. The directors held a
meeting last night TO review the condition of the
business and after going over the returns they
announced that the amount paid in is between
$50. 900 aud SO, 600. OF the forty-seven hundred
stockholders only about eighteen hundred had
settled yesterday afternoon, and if the amount
paid in is as large claimed. the inference is
that the larger stockholders are the ones who
are slow about paying. I'VE are
having no trouble in collecting from the email
stockholders" said Treasurer Claypool last
night A great many of the large holders have
no. settled yet, but know they will pay
whenever the money is needed, and we not
worrying about them. It's like collecting taxes.
and we will have to give some Of them their
time"
1t decided last night to add three days of
grace to the ten days, and this arrangement will
give the stockholders who have not paid, the
remainder of the week in which to settle The
directors say they have fear about all the
subscribers paying within the next few
days. In order to accommodate working
men who cannot visit the Trust office during the
i
office open each evening this week until o
o'clock
It is street talk that Frank Maus the brewer,
has not paid the assessment on his So. 900 of
stock, and does not intend to- The story, as it
goes, is that about the time the Broad Ripple
company dckering with Mr.. Pogue. Mr..
John P. Frenzel went to Mr. Maus and told him
that il he would subscribe So, 600 to the Trust
it would purchase the Broad Ripple plant
Mr. Maus said that he would rather have So 900
on the inside of company than have nothing
but his snare of the proceeds in sale
made to the Trust SO he subscribed the stock.
Since he subscribed for the stock the Broad
Ripple com pany's deal has not received favora-
bic consideration Il is said that Mr. Maus fatty
refuses to pay his assessment until the Broad
Ripple company's plant is purchased The d.
rectors admit that Mr.. Maus has not paid his
subscription vet, but do not believe he is wait
ing for the Ripple company to be purchased.
The plan of canvassing the city for
contracts from citizens to take gas only from
the Trust COMPANY is meeting with with
siderable opposition among the stockholders of
the company, who look upon it monopols-
tic step. the very thing the com pany organ
izea TO prevent among those VINO did not
favor this new move was NJ. 5. Huey, of
the most active men in behalf of the Trust. He
and MIR. A. A McKain, who is in charge of the
thirty canvassers now at work, had very
spirited argument over the in the
ofice OF the Trust yesterday morning. Mr..
Huey thought the Trust might well shut up
III
it was the same thing Doxey did. The Trust
so far, he said. had made it's friends by its
ostensible opposition to monopoly, and If tho
new move didn't look like the com panv in
tended to monopolize the gas business. he
didn't know what it did resemble. Mr. Nc
Kahn explained him that the subscriptions
were being taken merely to materielize basis
OF credit You see," said ne. I'VE to las
a million dollars worth of pipe in bringing gas
here. and we can't do it with $500, 900. But. il
we have contracts for the of gas which will
insu O
will have basis which
borrow any amount of money" The
question further argued, but Mr.. Huey
could not be convinced that the new move was &
good However. he returned to the Trust
Office yesterday afternoon, and said that he was
probably hasty in his condsm alton of the plan.
The cauvassers report gratifying success in
securing subscriptions for gas. and some of the
directors are of the opinion that il the CANVASS
Trust. A director said yesterday: ''By securing
large body of subscribers the Trust will en-
large its basis o: credit. The half million stock
have is suffcien. to start with. l know of
an outside capitalist who will take stock if
it is thought best to enlarge the capital,
and We have a considerable number
have been increased These contracts give US
standing abroad. The slight expense TO which
put in making this canvass will he repaid
fifty fold in the returns in various forms that
the canvass will bring us.
The trusts committee on territory went to
Greenfield yesterday, to look at the Martindae
wells, Oh Wnlch tney nave an optlou IL re-
ported at the directors meeting. last night, that
the wells were found to be represented and
it is probable that contract for them may be
closed soon.
The Indianapolis company is pushing near the
city with it's pipe line. and great many people
feel that after all it is going be the first to
supply Indianapolis with the fuel Yes
terday line was surveyed for the pipe line
after it leaves the Peru railroad tracks. Ac
cordine to the survey, the railroad will be left
at Schofield's mill, and from there the main will
RIM Il Inc fields to
The Inns will be completed and delivered to the
company in fifteen days. The company prom
Uses that in ten days after that time, provided
the ordinance is changed as they desire they
will be ready make connections, and supply
one third Of the city with gas